Category Archives: Economics

(Spending) money makes us happy

(featured image credit: Boris Kasimov CC BY) Maybe our preoccupation with earning money is a bit misguided – and for more than one reason Imagine receiving a bonus of, say, £2,400. Not an insignificant amount – it is close to … Continue reading

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More indifference

Why strong preferences and opinions are not (always) good for us My young teenage daughter used to ask me whether I ‘hated’ the male lead singer of the band The Beautiful South every time one of their ditties was played … Continue reading

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Money talks (but do we understand what it says?)

(featured image credit: Olivier Mabelly CC BY) What the flood of financial support for the rebuilding of the Notre Dame (and the reactions to it) tells us about ourselves Fires at famous landmarks understandably get a great deal of attention. … Continue reading

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A fair price for everyone

(featured image credit: Timothy Takemoto CC BY) Fairness is an important feature in our society. But is a fair price a fixed price, which is the same for everyone? For billions of years, life on this planet has been subject … Continue reading

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Time is (not quite) money

featured image credit: Jon Vonica The relationship between the two scarce resources that dominate our life is more complex than it may look at first sight When Benjamin Franklin published his essay, Advice to a Young Tradesman, Written by an … Continue reading

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Find your inner economist

(featured image credit: Ulleo) To make good choices, we have to be able to compare apples and pears Perhaps the most fundamental error that people make when discussing, or thinking about, economics is the belief that, confronted with two or … Continue reading

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Trade-offs, fast and slow

(featured image credit: domeckopol) Our biology determines how we make decisions, but we have a secret weapon Economics and biology are not the most obvious bedfellows. Standard economics has a reputation of assuming agents who have access to all relevant … Continue reading

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